Cheniere Energy (LNG Quick QuoteLNG - Free Report) , a Houston-based company specializing in oil and gas storage and transportation, recently secured a key regulatory approval to advance its Corpus Christi Stage 3 liquefaction expansion project. The Federal Energy Regulatory Commission (“FERC”) has given the green light for Cheniere to start introducing natural gas into the project’s fuel and hot oil systems. This approval marks an important step toward Cheniere's goal of beginning initial liquefied natural gas (“LNG”) production from Stage 3 by the end of 2024.

The Corpus Christi Stage 3 project in Texas is a significant investment, involving the construction of seven new gas-processing units. When completed, this expansion will increase Cheniere’s LNG production capacity by about 10 million metric tons per year. This boost in production will allow Cheniere to better meet the rising global demand for LNG, especially as nations shift toward cleaner energy options.

FERC’s approval also highlights the role of natural gas in today’s energy mix. As a cleaner alternative to other fossil fuels, natural gas is increasingly seen as a bridge to a future with more renewable energy sources. With this expansion, this energy infrastructure company should be playing a vital part in supporting the global transition to cleaner energy and helping to satisfy the world's growing energy requirements.

The company owns and operates two major LNG terminals in the United States—one in Sabine Pass, LA and another in Corpus Christi, TX. These terminals play a key role in turning natural gas into LNG, which can then be shipped to other countries. To keep these terminals running smoothly, Cheniere also owns and operates pipelines. The Creole Trail pipeline supplies natural gas to the Sabine Pass terminal, while the Corpus Christi pipeline serves the Corpus Christi terminal.

Overall, Cheniere Energy’s FERC approval for its Corpus Christi Stage 3 project brings it closer to starting LNG production by late 2024. This expansion should increase production capacity, supporting global demand for cleaner energy and reinforcing Cheniere's role in the shift to sustainable energy.

LNG’s Zacks Rank & Key Picks

Currently, LNG has a Zacks Rank of #3 (Hold).

Investors interested in the energy sector might look at some better-ranked stocks like  Petrofac Limited (POFCY Quick QuotePOFCY - Free Report) , Targa Resources Corp. (TRGP Quick QuoteTRGP - Free Report) and TechnipFMC plc (FTI Quick QuoteFTI - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Petrofac is valued at $67.87 million. This oil and gas equipment and services company operates across four segments including Onshore Engineering & Construction, Offshore Projects & Operations, Engineering & Consulting Services and Integrated Energy Services.

Targa Resources is valued at $44.36 billion. In the past year, its shares have risen 130.2%. TRGP is a leading provider of midstream energy infrastructure services in the United States. It offers a wide range of services, including gathering, processing, transportation, storage and marketing of natural gas and natural gas liquids.